As we all know, General Electric (GE) has exited the fleet management industry after a three-decade presence, which started in 1984 when GE Credit Corp. purchased Kerr Leasing, a small family-owned leasing company in Englewood, Colo. What is not well known is why GE entered the fleet management industry in the first place. Here is the prologue or “back story” that was the catalyst to GE’s entry into the fleet business.
Element Financial Corp. has closed its acquisition of GE Capital's U.S. fleet business and will now turn its attention toward integrating the two entities, the Toronto-based company announced Aug. 31.
Merger mania is hitting the fleet market once again. We’re hearing about potential OEM consolidations and we now have Element Financial Corp. expanding its foothold in the U.S., with the acquisition of GE Capital Fleet Services on the heels of its recent purchase of PHH.
The president of Element Financial Corp. provides the strategic thinking and explains the impact on the fleet industry of the company's acquisition of GE Capital Fleet Services in an exclusive interview with Automotive Fleet.
Element Financial Corp. has reached a definitive agreement to buy GE Capital's fleet assets in the U.S., Mexico, Australia, and New Zealand. Separately, Arval will acquire the European portion of GE's fleet business.
Through a partnership with J.J. Keller & Associates Inc. and Verizon Networkfleet, the new telematics offering will provide companies, including those with medium-duty fleets, with enhancements including electronic hours of service and driver vehicle inspection reports.
Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.
Although GE Capital Fleet Services has had strong annual revenue growth and a significant product development agenda, its upcoming sale is part of a larger strategic plan by its parent company to focus on its core industrial businesses.
GE Capital Fleet Services today introduced BrightWorks Insights, a fleet analytics platform that brings together data from drivers, vehicles, fleet services, and third parties to enable companies to make smarter fleet management decisions.
General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.
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